Caspian joint venture

Kazakh state marine company KazMorTransFlot and the UK’s contractor Stolt Offshore SA intend to create a joint venture to build oil and gas facilities on the Caspian Sea, KMTF has said. The sides have already signed a memorandum of understanding. The new joint venture will design, build and manage construction vessels, and maintain marine facilities. It will also conduct deep-water engineering and pipeline installation. One of the projects it will work on is the giant oil and gas offshore field Kashagan, which is being developed by Italy’s Eni-led consortium.

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